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Singapore assets choose 'Cooling as a Service' to reduce energy use

19th June 2024

CapitaLand Investment (CLI) has adopted ‘Cooling as a Service’ (Caas) for three of its largest Singapore assets.

The Singaporean investment manager will adopt CaaS systems in Raffles City Singapore (above), Plaza Singapura and The Atrium@Orchard.  The cooling systems will cover 4.8 million sq ft of gross floor area across the three properties, which are owned by CapitaLand Integrated Commercial Trust.

The 15-year CaaS contracts for Raffles City Singapore were awarded to Keppel DHCS, and for Plaza Singapura and The Atrium@Orchard to ENGIE South East Asia. 

CLI expects to reduce energy consumption at these assets by more than 30% over the period and to be able to upgrade their green certifications. 

Under the 15-year performance guaranteed contracts, Keppel and ENGIE will provide chilled water and air-conditioning to the mixed-use and retail properties.  CLI’s partners are fully responsible for the design, build, operations, maintenance, repairs and upgrades to the cooling system.  

Chris Chong, CEO, retail & workspace (Singapore & Malaysia), at CLI said: “Sustainability is at the heart of everything that we do at CLI, and we remain dedicated to contributing to the environmental well-being of the communities we operate in. We review and adopt innovative systems as well as business models to ensure that our properties run optimally and meet the evolving needs of our tenants and stakeholders.”

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